- A Malaysian polyolefins producer contacted by SSESSMENTS.COM stated that the company has announced August shipment offers to the Vietnam and Philippines market two days ago. The producer is offering PP Homo Raffia to both markets at $100/ton higher than last month’s levels. The offers are available at $1,020/ton on LC at sight, CIF Main Port basis but not sure whether such a level would be acceptable or not. Citing that demand in Southeast Asia remains unimproved and tight supply has been slightly eased. In the upcoming month, the producer is unsure about the sustainability of the current price trend taking into account the expectation of better supply for PP in the Southeast Asia market. Despite that, the producer assured that there would not be a downward correction for August shipment offers in the days to come. In the domestic market, demand for PP is quite healthy and the operating rate at the downstream factories is gradually improving.
- Meanwhile, a Middle Eastern producer informed SSESSMENTS.COM that the company just managed to sell out all July PP allocation to the Southeast Asia market, and is currently discussing offers for August shipment. Before releasing August shipment offers, the producer will monitor the market first and keep an eye on other suppliers’ offers so they could give competitive offers. However, the producer hinted that August shipment offers will remain firm.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.37 | September Settlement | -0.42 |
| NYMEX | 40.75 | August Settlement | -0.45 |
| Naphtha | 386 | CFR Japan | -5 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 818-824 | CFR China | -4 to -6 |
| Propylene | 778-784 | FOB Korea | No Changes |
PP Homo Raffia on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT and VND term includes 10% VAT all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 14,800,000*-15,600,000 | 1,009-1,063 |
| Southeast Asia | IDR | 14,900,000*-15,800,000 | 1,016-1,077 |
| Malaysia | MYR | 4,400*-4,450* | 1,030-1,042 |
| Philippines | PHP | 64,000 | 1,152 |
| Thailand | THB | 34,000-36,000 | 1,071-1,134 |
| Vietnam | VND | 24,500,000-25,800,000 | 958-1,009 |
| Saudi | VND | 26,000,000-27,500,000 | 1,017-1,075 |
| South Korea | VND | 26,000,000-26,500,000 | 1,017-1,036 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF/CFR Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 950-980 |
| Indian Subcontinent | PP Homo Raffia | 940-970 |
| Middle East | PP Homo Raffia | 920-960 |
| Southeast Asia | PP Homo Raffia | 990-1,030 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 17, 2020 12:08 PM (GMT+8)
Last Updated on July 17, 2020 12:44 PM (GMT+8)
